Zegona Communications (LON:ZEG) Hits New 52-Week High – Still a Buy?

Zegona Communications plc (LON:ZEG)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 575 ($7.16) and last traded at GBX 570 ($7.09), with a volume of 1000497 shares changing hands. The stock had previously closed at GBX 530 ($6.60).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their price objective on Zegona Communications from GBX 945 ($11.76) to GBX 825 ($10.27) and set a “buy” rating for the company in a research report on Tuesday, January 7th.

Zegona Communications Price Performance

The stock has a market cap of £4.12 billion, a P/E ratio of 6,500.00 and a beta of 2.80. The company has a current ratio of 67.85, a quick ratio of 6.23 and a debt-to-equity ratio of 4.22. The company’s fifty day simple moving average is GBX 404.25 and its 200-day simple moving average is GBX 364.61.

Insider Activity at Zegona Communications

In related news, insider Richard Williams bought 12,363 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average price of GBX 404 ($5.03) per share, for a total transaction of £49,946.52 ($62,168.93). Also, insider Ashley G. Martin purchased 12,750 shares of the stock in a transaction on Thursday, December 12th. The stock was bought at an average price of GBX 330 ($4.11) per share, for a total transaction of £42,075 ($52,371.17). 74.68% of the stock is currently owned by insiders.

Zegona Communications Company Profile

Zegona is a British company investing strategically across the Europe with the objective of acquiring businesses in the European TMT sector, using a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns.

The first acquisition made by Zegona was of Asturian telecommunications operator Telecable in 2015.